In addition to the information provided by champ Opus17, you mentioned that you are seeing a total of $7000 on your income summary. This is normal because you did enter information about two transactions that totaled $7000 which took money out of two separate accounts. This income summary does not necessarily mean that all $7000 is included as taxable income.
You need to review your actual Form 1040 to check the amount that is actually included as income. Take a look at lines 4a, 4b, 5a, and 5b.
If you are using TurboTax Online, use the following steps to preview your Form 1040:
- Open or continue your return.
- Select Tax Tools in the left menu.
- With the Tax Tools menu open, you can then:
- Select Print Center and then Print, Save, or Preview This Year's Return to preview your entire return, including all forms and worksheets (you may be asked to register or pay first).
- View only your 1040 form by selecting Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu.
If you are using a CD/downloaded version of TurboTax, click the Forms button in the upper right corner and then select Form 1040 in the left menu panel.
@Mtnbillie
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